3rd January 2022
EP Report

Aker BP and Lundin Energy plan to merge, creating Norway’s second largest oil and gas producer with cumulative production next year of more than 400,000 boe/d.

 

The combined company will operate six major production hubs on the Norwegian continental shelf (NCS) with further growth in prospect through the NOAKA and Valhall NCP/King Lear projects in the North Sea.

 

It will also be the second largest owner of the Johan Sverdrup oil field (31.6%) and a partner in the Wisting oil development in the Barents Sea. These projects, some with low break-even costs, could lift the new group’s production above 500,000 boe/d by 2028.

 

Aker BP Chairman Øyvind Eriksen said: “In 2016 we created Aker BP together with BP when we combined Det norske and BP Norge…Already when we created Aker BP, a subsequent acquisition of Lundin Energy was a vision shared between BP and Aker.


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